Asian shares were buoyed by a late bounce in U.S. tech on Friday as results from Meta and Amazon beat expectations, while investors are bracing for U.S. jobs figures, which could hasten bets for rate cuts if they come in below forecast. Both quarterly results from Meta Platforms and Amazon.com impressed investors, with their shares surging 15% and 7% in after-hour trading, respectively.

The 2024 interim budget was in sync with the government's commitment to sustainable development, inclusive growth and empowerment. It is multidimensional in its focus and resolute in its march towards the $5-trillion-economy mark. At its heart, the Budget is about building for the future with an emphasis on innovative, socially, and environmentally responsible growth taking all sections.

On Thursday, U.S. stocks rebounded after the Federal Reserve dismissed expectations of an interest rate cut in March. The tech-heavy Nasdaq led the gains, with companies like Meta Platforms and Amazon reporting positive earnings. However, Apple's China sales missed targets. Economic data showed rising productivity and moderated labor market conditions. The S&P 500 rose 1.25%.

Oil prices rose following OPEC+'s decision to maintain current oil output levels and reports of a potential ceasefire between Israel and Hamas. However, the ceasefire was unverified and tensions in the region continue due to attacks by Yemen's Houthi forces on ships in the Red Sea. OPEC+ will reevaluate production cuts in March.

India's renewable energy stocks have surged in the past two years due to government promises to boost clean energy production. However, these extended valuations are a cause for concern, with some stocks seeing as high as a 5,800 percent increase. Experts warn that investors should focus on fundamentals rather than hype and excessive valuations. With solar module prices falling.

On February 8th, the Reserve Bank of India will maintain its interest rate at 6.50%, according to economists polled by Reuters. The RBI has kept the rate steady since February 2023, despite being one of the slower central banks in raising rates. Though inflation is close to the upper limit of their target range, the economy is still growing steadily and a rate cut is not expected.

The Indian equity indices BSE Sensex and NSE Nifty 50 are expected to open positively on Friday, according to GIFT Nifty. On Thursday, the NSE Nifty 50 closed slightly lower while the BSE Sensex closed lower by 0.15%. In Wall Street, all three major indices closed in the green, with the Dow Industrial Average down by 0.97% and the S&P 500 up by 1.25%.

Citi's India investment banking head Rahul Saraf predicts an increase in merger and acquisition activity in India this year, fueled by capital from sovereign wealth funds, the Middle East, and other sources. He expects deals in industrials, manufacturing, IT services, insurance, and consolidation among shadow banks. The country's booming stock market and strong economic growth.

With Union Budget and Federal Reserve's monetary policy meeting out of the way, investors will focus on earnings, fundamentals, and valuations to choose quality stocks. Seven stocks with potential upside of over 30% and strong growth outlook are: Adani Enterprises, HDFC Bank, PVR Inox, SBI Life Insurance, Cyient, Asian Paints, and Sunteck Realty.

In the December 2023 quarter, SJS Enterprises saw a significant increase in net sales (50.96%) and net profit (32.16%). EBITDA also rose by 45.25%. EPS climbed from Rs. 5.16 to Rs. 6.72. Despite this positive financial performance, the company's shares on NSE closed with -9.88% returns over the past 6 months. The promoter group's shareholding remains the same.

In the December 2023 quarter, Hester Biosciences reported a decrease in net sales by 7.44% to Rs. 65.51 crore and a decrease in net profit by 39.65% to Rs. 6.48 crore. EBITDA also decreased by 37.09% to Rs. 12.55 crore. EPS has decreased from Rs. 12.61 to Rs. 7.61. The stock has given negative returns.

Aptus Value Housing Finance India reported positive numbers in December 2023, with a 22.76% increase in net sales and a 25.5% increase in net profit compared to the same quarter in 2022. Their EBITDA also rose by 23.71%. The company's EPS increased from Rs. 2.53 to Rs. 3.16 in the same period. As of February 2024, their shares have given a 40.

AAVAS Financiers reported strong financial results for the quarter ending December 2023, with a 23.51% increase in net sales and an 8.96% increase in net profits compared to the same period in 2022. The company's EBITDA also showed a significant rise of 27.12%. However, AAVAS Financier shares have seen a negative return of -3.27% over the last 6 months and -18.30%

Shares of PB Fintech, parent company of Policybazaar, dropped after Claymore Investments sold its stake for over Rs 2,425 crore. The buyer is unknown. PB Fintech reported a profit of Rs 37 crore in the December quarter, with revenue growing by 43%. Over the past year, shares have gained 130%, but experts advise seeking advice before making investment decisions.

TVS Motor Company's stock rose 2.4% after reporting a 23% increase in vehicle sales in January, selling 339,513 units. Motorcycle and scooter sales grew by 29% and 24%, respectively, while EV sales surged by 34%. Exports also saw a 22% growth, but three-wheeler sales declined. The company faced constraints in availability of containers, affecting dispatches.